June 1, 2018
The Honorable Dean Heller
Chairman
Subcommittee on Securities, Insurance & Investment
Senate Committee on Banking
324 Hart Senate Office Building
Washington, DC 20510
Dear Chairman Heller,
We received the letter dated May 9, 2018 regarding your review of the proxy advisory industry and the business practices of proxy advisory firms. We appreciate the opportunity to provide answers to your questions, as well as additional information about Glass Lewis.
We also wish to take this opportunity to respond to certain misleading, inaccurate and conflicted reports published by groups such as the American Council for Capital Formation (ACCF), the Manhattan Institute, Nasdaq and the U.S. Chamber of Commerce. To begin with, we would like to note the following facts: